Foster Wheeler CEO: Business Getting Bigger
Cramer got behind Foster Wheeler back in April when it was trading around $68. Now it’s a $150 stock and some are calling a top in this engineering and power giant. But Cramer doesn’t think the best is over for FWLT .
On Friday’s Mad Money, CEO Raymond Milchovich visited Cramer on set and said Foster’s biggest and best days are ahead of it. The markets that support Foster’s businesses are strong, Milchovich said, and the projects the company is engaged in are getting even larger in scale.
It’s also on the “leading edge” of green technology, Milchovich said, which is exemplified in its simultaneous investments in wind farm projects in Italy as well as ‘carbon capture’ technology for clean coal plants in North America and Spain.
And investors should feel confident in Foster’s “rest-of-world” exposure, Cramer said. According to Milchovich, 75 to 80 percent of the company’s business falls outside of North America. It has a bulk of its operations in the Middle East but is also expanding rapidly into Asia Pacific and Australia, he said.
The bottom line? There’s green to be made in environmentally friendly stocks, as Cramer has demonstrated all week. Foster Wheeler has the added value of being internationally diversified and a company with real organic growth. FWLT is part of a genuine global bull market, as far as Cramer is concerned.
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